The Maldives Inland Revenue Authority (MIRA) has reported that MVR 2 billion in total tax revenue was collected in December 2021.
According to MIRA’s monthly revenue collection report, total revenue collected in December was 95% higher than revenue collected in the same period the previous year, and 45% higher than expected revenue for the month.
The increase in revenue was attributed to higher amounts of GST, Income Tax, Green Tax, and Airport Taxes collected during the month, according to the taxation authority.
It further said that payment for the Lease Period Extension Fee was received in December 2021, but not in December 2020, resulting in a comparable increase in revenue.
According to the report, GST contributed the most to revenue in December, totaling MVR 952.77 million, accounting for 47% of total income.
Tourism Land Rent was the second largest contributor to revenue, with a total of MVR 485.44 million, accounting for 24% of total revenue.
Furthermore, Lease Period Extension came in third with MVR 153.6 million (7.6%), followed by Green Tax with MVR 94.41 million (4.7%), Income Tax with MVR 55.69 million (4.7%), and miscellaneous taxes and fees with MVR 243.65 million (12%).